DIRS.INFO The most relevant business & tech news

☆ As Pandemic-Era Investor Fervor Eases, Money Gets Tight for Logistics Startups
▼ + stars: | 2023-05-15 | by ( Paul Berger | ) www.wsj.com time to read: 1 min

Companies that use digital tools to find available trucks have been popular with investors in recent years. Photo: Chip Somodevilla/Getty ImagesLogistics and supply-chain startups, darlings of the venture-capital world during the pandemic, are struggling to raise funds as investors tighten spending and put companies under tougher scrutiny. Funders say they are growing more cautious with seed and mid-stage investments amid rising interest rates that are raising the cost of capital and concerns over the direction of the broader economy.

☆ Will history repeat? Here are Club stocks that were great buys during 2011 debt-ceiling market swoon
▼ + stars: | 2023-05-15 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +9 min

Concern about a potential U.S. government default has only mounted in recent days, contributing to back-to-back weekly losses in the S & P 500. By Feb. 7, 2012, the S & P 500 closed above its late-July peak. A similar rationale seems to explain why TJX Companies (TJX) had the third-best relative performance, falling only 5.9% during the 2011 debt-ceiling jitters. TJX had a great rest of the year, too, gaining 22% from the S & P 500 index's 2011 August bottom to year-end. What's more, 12 Club stocks finished 2011 higher than their July 22 close, the S & P 500's late-July peak that year.

☆ Jane Roberts' anti-abortion advocacy helped her husband, Chief Justice John Roberts, land his spot on the Supreme Court years before Roe v. Wade was overturned
▼ + stars: | 2023-05-13 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +11 min

Chief Justice John Roberts' wife's anti-abortion advocacy once helped bolster his judicial career. Details of Jane Roberts' work, though not new, are worth revisiting in the aftermath of Roe v. Wade's reversal. Supreme Court Chief Justice John Roberts and his wife Jane exit the funeral service for Antonin Scalia. Jane Roberts' advocacy and public political beliefs ultimately helped convince two conservative legal power players, Leonard Leo and Jay Sekulow, to publicly advocate for John Roberts' confirmation, according to the Times. Photo by Alex Wong/Getty ImagesAt the time of John Roberts' nomination, liberals feared he might pose a threat to Roe v. Wade.

☆ TikTok Delays Full Opening of U.S. Shop
▼ + stars: | 2023-05-10 | by ( Raffaele Huang | ) www.wsj.com time to read: 1 min

In March, TikTok CEO Shou Zi Chew responded to lawmakers’ questions about security concerns and potential Chinese government influence over the company. Photo: Chip Somodevilla/Getty ImagesSINGAPORE—TikTok’s Chinese parent has delayed the rollout of its shopping platform in the U.S. as concerns over the video-sharing app’s future deter merchants from joining, dragging on the company’s plans to earn more money from its prize global asset. ByteDance has postponed opening the shop to all sellers, originally intended for early spring, to June at the earliest, people familiar with the matter said. Its actual launch date might get pushed back further because of merchants’ concerns about a possible ban of the app and tepid adoption of live-streaming e-commerce in the U.S., the people said.

☆ Tucker Carlson helped broker the deal that made Kevin McCarthy House speaker after 14 failed votes, text messages show
▼ + stars: | 2023-05-03 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

Tucker Carlson won concessions from Kevin McCarthy in a deal that made him House speaker, per his texts. McCarthy needed 218 votes to win his bid to become House speaker, giving him a small margin of error. The result was 14 rounds of votes that failed to produce a House speaker, making it the most contested speaker election in more than 150 years. Grossberg discussed some of the conversations between her and Carlson regarding McCarthy's House Speaker election in an interview with CNN on Tuesday night. On January 7, the House held its 15th vote for House Speaker.

☆ Lawmakers Grapple Over Whether Supreme Court Needs an Ethics Code
▼ + stars: | 2023-05-02 | by ( Jess Bravin | ) www.wsj.com time to read: +1 min

Video from the 1991 confirmation hearing for Justice Clarence Thomas played at a Senate Judiciary Committee hearing on Supreme Court ethics. Photo: Chip Somodevilla/Getty ImagesWASHINGTON—Senate Democrats on Tuesday faulted the Supreme Court’s ethics rules following news reports that Justice Clarence Thomas accepted luxury vacations from and sold real estate to a billionaire friend, as Republicans said that scrutiny of the justices was grounded in the court’s conservative supermajority overturning precedents such as Roe v. Wade. The forum was the Senate Judiciary Committee, where Chairman Richard Durbin (D., Ill.) moved ahead with a hearing on Supreme Court ethics even after Chief Justice John Roberts declined an invitation to testify. The chief justice instead sent a statement signed by all nine justices saying that while they have no binding code of conduct or internal compliance office, they nonetheless “follow the same general principles and statutory standards as other federal judges.”

☆ We're pulling out the 2011 market playbook to navigate the current debt-ceiling debacle
▼ + stars: | 2023-05-02 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

The looming U.S. debt-ceiling crisis has ignited a new wave of uncertainty in the market this week, with all three major benchmarks under pressure Tuesday. That's the biggest lesson learned from the debt-ceiling crisis of 2011, which was characterized by similar political dynamics. Nonetheless, stocks mounted a recovery in the fall of 2011, with the S & P 500 finishing the year essentially flat. We expect the current crisis to ultimately yield a similar result — both in terms of a political resolution and a buying opportunity in the interim. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Jeremy Selwyn/WPA Pool/Getty Images Camilla stands next to Queen Elizabeth II during a Diamond Jubilee pageant on the River Thames in June 2012. Chris Jackson/Getty Images From left, Camilla, Charles, Queen Elizabeth II and Prince Philip attend the state opening of Parliament in May 2013. From left are Camilla, Charles, Queen Elizabeth II, Prince Louis, Duchess Catherine, Princess Charlotte, Prince George and Prince William. Frank Augstein/WPA Pool/Getty Images In pictures: Britain's Queen Camilla Prev NextShe reportedly met Prince Charles at a polo match in Windsor in 1970 and they became friends. From left are Camilla, Charles, Queen Elizabeth II, Prince Louis, Duchess Catherine, Princess Charlotte, Prince George and Prince William.

☆ The 10 Senate seats most likely to flip in 2024
▼ + stars: | 2023-04-30 | by ( Simone Pathe | ) edition.cnn.com time to read: +19 min

The GOP needs a net gain of one or two seats to flip the chamber, depending on which party wins the White House in 2024, and it’s Democrats who are defending the tougher seats. Jim Justice announcing his Senate bid in West Virginia – the seat most likely to flip party control in 2024. In a presidential year, the national environment is likely to loom large, especially with battleground states hosting key Senate races. Two businessmen with the ability to tap into or raise significant resources could be in the mix – Eric Hovde, who lost the GOP Senate nomination in 2012, and Scott Mayer. Still, unseating Cruz in a state Trump won by nearly 6 points in 2020 will be a tall order.

☆ Jane Roberts, who is married to Chief Justice John Roberts, made $10.3 million in commissions from elite law firms, whistleblower documents show
▼ + stars: | 2023-04-28 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +20 min

Jane Roberts was paid more than $10 million by a host of elite law firms, a whistleblower alleges. At least one of those firms argued a case before Chief Justice Roberts after paying his wife hundreds of thousands of dollars. And I realized that even the law firms who were Jane's clients had nowhere to go. Mark Jungers, another one of Jane Roberts' former colleagues, said that Jane was smart, talented, and good at her job. But whether that committee has the authority to discipline Thomas or any other Supreme Court Justice remains a matter of murky constitutional interpretation, to be ultimately decided by the Supreme Court itself.

☆ Growing Freight Fraud is Peeling Millions From the U.S. Shipping Market
▼ + stars: | 2023-04-27 | by ( Liz Young | ) www.wsj.com time to read: 1 min

TriumphPay estimates at least $500 million to $700 million of shippers’ and brokers’ freight payments are going to double brokers annually. Photo: Chip Somodevilla/Getty ImagesFreight fraud is spreading across trucking networks as tech-savvy operators impersonating middlemen skim off payments for shipping goods that can total thousands of dollars, industry executives say. The fraudulent tactic, long a nagging problem in trucking, has gained momentum in the past two years as the business of matching loads to trucks has moved online and heated competition for shipments has cut short the time spent checking the backgrounds of businesses.

☆ Analysis: American living standards are on the line in the debt ceiling drama
▼ + stars: | 2023-04-27 | by ( Christine Romans | ) edition.cnn.com time to read: +6 min

New York CNN —Inside the Beltway, jockeying over raising the debt ceiling has become a partisan ritual to gain political points. But marching toward a debt ceiling default puts American living standards on the line. For most of that time, the debt ceiling was raised with little fuss, until 2011 brought the debt ceiling into a new dangerous realm of political brinksmanship. Deciding later not to pay the bills by not raising the debt ceiling is not sound fiscal policy. Roger Ferguson, economist and former vice chair of the Fed, said the debt ceiling is out of date.

☆ Lawyers plan to depose Tucker Carlson about 'sexist' workplace later this year amid reports he was ousted from Fox News over misogynistic messages
▼ + stars: | 2023-04-25 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

Grossberg's lawsuit, filed in Manhattan federal court against Fox News in March, also names both Carlson and one of his top producers, Justin Wells, as defendants. Their removal from Fox News, however, doesn't mean they can escape scrutiny in the lawsuit, Grossberg's lawyer Tanvir Rahman told Insider. Grossberg's lawsuit was one factor in the decision to fire him, according to the Los Angeles Times. Grossberg's lawsuit alleges she experienced a hostile environment while working as a producer for shows hosted by Carlson and Maria Bartiromo. Fox executives derided Bartiromo with sexist terms, calling her "menopausal," "hysterical," a "diva," and a "crazy bitch," Grossberg's lawsuit claims.

☆ The Man Who Settled the Fox-Dominion Defamation Case From a Romanian Tour Bus
▼ + stars: | 2023-04-20 | by ( Joe Flint | ) www.wsj.com time to read: 1 min

Lawyers representing Dominion Voting Systems leave the Leonard Williams Justice Center following a settlement with Fox News. Photo: Chip Somodevilla/Getty ImagesJerry Roscoe was enjoying a cruise with his wife on the Danube River in Romania last Sunday when the dispute mediator saw an email asking for his help on a sensitive matter: the high-stakes defamation suit against Fox News. Voting machine company Dominion Voting Systems had sued Fox, accusing the company of airing false claims that its technology helped rig the 2020 presidential election in favor of Joe Biden. Fox argued that it was covering newsworthy election-fraud claims. It was a bruising legal battle that, after two years of hostilities, would soon be aired in front of a Delaware jury.

☆ Fox has more headaches coming after agreeing to pay $787.5 million to settle Dominion's defamation lawsuit
▼ + stars: | 2023-04-20 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +8 min

After shelling out $787.5 billion to settle Dominion's lawsuit, Fox has more troubles on the way. Atop the list is a separate lawsuit from Smartmatic, another election technology company that sued Fox News Network and its parent company, Fox Corp., in the aftermath of the 2020 presidential election. Smartmatic's defamation lawsuit asks for $2.7 billion in damages and was filed against Fox Corp.; Fox News Network; hosts Jeanine Pirro, Maria Bartiromo, and Lou Dobbs; and Powell and Giuliani. Aside from the Smartmatic case, Fox News has to deal with potential shareholder lawsuits. The overall value of Fox Corp. — which also includes Fox Sports and the streaming service Tubi — is more than $17.6 billion.

☆ Bed Bath & Beyond’s potential bankruptcy would create long-term growth for off-price retailer and Club holding TJX
▼ + stars: | 2023-04-20 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Existential troubles facing Bed Bath & Beyond (BBBY) are creating an opportunity for Club holding TJX Companies (TJX) to take market share, which could lead to sustainable long-term growth at the off-price retailer behind the T.J. Maxx, Marshalls and HomeGoods. Shares of Bed Bath & Beyond traded for less than 30 cents each Thursday. "The assortment of goods, the categories they can extend into, and the strength of the balance sheet ... allows for them to be a solid beneficiary" of Bed Bath & Beyond's misfortunes. TJX 1Y mountain TJX Companies (TJX) 1-year performance That inventory glut isn't just a Bed Bath & Beyond problem; it's industry-wide. More Bed Bath & Beyond store closures "can only enhance conversion," said Telsey, whose firm Telsey Advisory Group likes TJX stock.

☆ From GE to Siemens, the wind energy industry hopes billions in losses are about to end
▼ + stars: | 2023-04-17 | by ( Bob Woods | ) www.cnbc.com time to read: +8 min

The wind farm includes 132 2-megawatt Gamesa G80 wind turbines along 12 miles of the Allegheny Front. (Photo by Chip Somodevilla/Getty Images) Chip Somodevilla | Getty Images News | Getty ImagesIt's been a tough couple of years for the U.S. wind energy industry. Although 2023 is expected to remain sluggish, GE Renewable Energy, Siemens Energy and Vestas Wind Systems, the leading makers of wind turbines — outside of China, which has built the world's largest wind energy infrastructure — and their suppliers are banking on growth over the next decade, particularly in the nascent offshore wind niche. "The wind energy market is stuck in this very strange paradox right now," said Aaron Barr, an industry analyst at Wood Mackenzie. Comparatively, the U.S. offshore wind industry is just ramping up after years of delays in permitting, environmental approvals and power purchasing agreements with utilities that buy wind energy.

☆ Dominion’s case against Fox News goes to trial next week. Is the First Amendment really on the line?
▼ + stars: | 2023-04-16 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +21 min

But even by the standards of the profession, the language in Dominion's $1.6 billion lawsuit against Fox News has been downright apocalyptic. A victory for Dominion against Fox, they say, could wreak havoc for other journalism organizations across the country. The sheer closeness between Trump and Fox News makes a case like this unlikely to harm journalism organizations down the line, Goodale said. The vast majority of defamation cases against media organizations are settled, which gives few high-profile precedents to the Dominion lawsuit. "And that's the balance that the Sullivan court strike tried to strike in 1964.

☆ Trump faces more legal threats beyond a hush money case. Here's the status of those probes
▼ + stars: | 2023-04-05 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +10 min

Cohen has since become a vocal critic of his former boss and testified before the grand jury hearing evidence in Bragg's probe. The grand jury was impaneled in January 2022 to hear evidence in Fulton County DA Willis' probe. Portions of that final report, which were released in February, show the grand jury determined that at least one witness may have lied under oath. New York civil caseTrump is also embroiled in a state-level civil fraud case filed by James, the New York attorney general. (L-R) Eric Trump, Donald Trump Jr., and Ivanka Trump and Donald Trump attend the ground breaking of the Trump International Hotel at the Old Post Office Building in Washington July 23, 2014.

☆ Josh Hawley splits Senate GOP over 'duplicative' idea to create a new office tracking US aid to Ukraine
▼ + stars: | 2023-03-28 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

The Senate rejected a bill from Josh Hawley to establish a new office to oversee Ukraine aid. Many Republicans said they were confident in the Biden administration's aid tracking efforts. "We already have a very extensive operation to oversee spending in Ukraine," said Sen. Mitt Romney of Utah. Hawley's bill did win over at least one Republican who's a vocal supporter of aiding Ukraine: Sen. Lindsey Graham of South Carolina. The underlying AUMF repeal bill, which is backed by a large bipartisan majority of senators and has been endorsed by the White House, is expected to pass the Senate on Wednesday.

☆ The GOP just tried the fast-track route to block Biden's student-debt relief. Here's why it probably won't work.
▼ + stars: | 2023-03-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

But the debt relief still faces challenges ahead as the Supreme Court decides its legality. Chip Somodevilla/Getty ImagesOther roadblocks student-debt relief could faceA CRA resolution might not work, but Republicans have still put forth other legislation. "We will continue to fight this cruel Republican attempt to end student debt relief with everything we have," he said. Amid potential challenges, Biden's administration has not relented in its confidence student-debt relief will reach borrowers this year. "Our student debt relief plan is necessary in the wake of the pandemic," Education Secretary Miguel Cardona wrote on Twitter.

☆ Bed Bath & Beyond is closing hundreds of stores. But they won’t be empty for long
▼ + stars: | 2023-03-21 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +5 min

New York CNN —Bed Bath & Beyond is stripping down its big blue signs, clearing out aisles of linens and closing 400 stores as it tries to stave off bankruptcy. Bed Bath & Beyond (BBBY)’s real estate is a precious, scarce resource for retailers, gyms and anyone else who needs ample space. “A lot of great real estate is going to come available into a market where there’s been no vacancies. “Bed Bath and Beyond sites are interesting to us, and we are exploring available opportunities with our franchisees,” a spokesperson told CNN. He also believes Bed Bath & Beyond may not be able to avoid bankruptcy or liquidation, which would lead to more vacancies.

☆ The Fed wants higher unemployment because it would bring down inflation
▼ + stars: | 2023-03-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

Powell testified abou the Federal Reserve's semi-annual monetary policy report to Congress and the state of the economy Chip Somodevilla/Getty1. A reading of 200,000 or more jobs added in February means we're getting a bigger rate hike this month. Fed Chair Jerome Powell said this week that the trajectory of monetary policy doesn't hinge solely on today's jobs report, but markets are still bracing for impact. Remember, the Fed's stated goal is a 2% inflation rate. Meanwhile, Wharton's Jeremy Siegel said Thursday that the Fed is taking a flawed policy approach, and it shouldn't be so focused on jobs.

☆ Paul Ryan Says Even MAGA Diehards Believe Trump Can’t Win in 2024
▼ + stars: | 2023-03-06 | by ( David Marchese | ) www.nytimes.com time to read: +23 min

Photo illustration by Bráulio Amado Talk Paul Ryan Says Even MAGA Diehards Believe Trump Can’t Win in 2024For a good long time during the George W. Bush and Obama presidencies, Paul Ryan was considered one of the intellectual leaders and shining stars of the Republican Party. Get out of this race.” But I don’t think Trump is going to get the nomination. I don’t think we want the lack of liberty that comes with government-made equality. Where I part company with the left is I don’t believe in socialism. I don’t believe in equality of outcomes.

☆ Why a student-loan company's involvement in a case seeking to block Biden's debt relief might end up working in borrowers' favors
▼ + stars: | 2023-03-04 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +8 min

Student-loan company MOHELA played a central role in one of the cases seeking to block Biden's student-debt relief. All justices dug into whether the state of Missouri has standing to claim an injury to MOHELA is an injury to itself. Some experts said the company's involvement in the case could undermine plaintiffs' standing to sue. The states argued that Biden's debt relief would hurt their states' tax revenues, but that was an issue the Supreme Court justices barely questioned. "And two, that President Biden's debt relief plan would impact MOHELA such that MOHELA could not even start paying back its debts to the Lewis and Clark Fund."

Search resuls for: "Somodevilla"

25 mentions found